As of the afternoon of Oct. 6, Bitcoin (BTC 0.86%) is valued at $2.5 trillion. This makes it more valuable than some of the most dominant technology enterprises. This digital asset is surely winning over the skeptics as its price continues to march higher and reach new records.
Bitcoin -- launched in 2009 -- has worked out to be an exceptional investment historically. If you had invested in this top cryptocurrency five years ago, in early October 2020, here's how much you'd have today.
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Bitcoin has been a high-performing asset
Despite extreme volatility, Bitcoin's price has skyrocketed 1,060% in the past five years as I write this. This monster gain would've turned a $10,000 initial capital outlay in October 2020 to a whopping $115,700 on Oct. 6. The stock market's performance during the same time doesn't even come close to Bitcoin's impressive showing.
There are powerful trends lifting Bitcoin
Bitcoin's rise has been nothing short of spectacular. The top crypto has benefited from huge amounts of government spending and debt, which increases the money supply. As a result, capital has flown to Bitcoin, an asset that has a hard supply cap.
Moreover, the financial services industry is embracing Bitcoin in different ways, most notably with spot Bitcoin exchange-traded funds (ETFs). And there is a more favorable regulatory backdrop for ongoing innovation to take place, boding well for Bitcoin's future.
